Nuvation Bio (NYSE:NUVB) Shares Up 4.1%

Nuvation Bio Inc. (NYSE:NUVB)’s stock price rose 4.1% on Thursday . The stock traded as high as $2.33 and last traded at $2.30. Approximately 335,584 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,412,262 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Wednesday, September 11th. HC Wainwright reduced their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Stock Up 7.7 %

The stock has a market cap of $593.19 million, a price-to-earnings ratio of -7.61 and a beta of 1.38. The business’s fifty day moving average is $2.96 and its two-hundred day moving average is $3.01.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $33,000. Caxton Associates LP purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $43,000. Finally, Choreo LLC purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.